The latest trading session saw Deere (DE) ending at $470.90, denoting a -1.58% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.67%. Meanwhile, the Dow experienced a rise of 0.56%, and the technology-dominated Nasdaq saw an increase of 0.87%.

Shares of the agricultural equipment manufacturer have appreciated by 4.38% over the course of the past month, outperforming the Industrial Products sector's loss of 5.5% and the S&P 500's loss of 5.28%.

The investment community will be paying close attention to the earnings performance of Deere in its upcoming release. The company is predicted to post an EPS of $5.74, indicating a 32.71% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $10.75 billion, indicating a 21.03% downward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $19.30 per share and revenue of $37.96 billion, which would represent changes of -24.67% and -15.2%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Deere. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. Deere is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, Deere currently has a Forward P/E ratio of 24.8. Its industry sports an average Forward P/E of 21.23, so one might conclude that Deere is trading at a premium comparatively.

We can additionally observe that DE currently boasts a PEG ratio of 2.07. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Manufacturing - Farm Equipment industry was having an average PEG ratio of 2.07.

The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 83, placing it within the top 34% of over 250 industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow DE in the coming trading sessions, be sure to utilize Zacks.com.

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This article originally published on Zacks Investment Research (zacks.com).

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